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The Real Deal NYC

Moishe Mana to join TRD for one-on-one at Miami real estate event

From TRD Miami: The Real Deal is excited to announce the addition of developer Moishe Mana to the lineup of our fourth annual Miami Real Estate Showcase and Forum on Oct. 26! Mana, who chatted about his humble beginnings and vision for Miami in this issue’s Closing interview, will join TRD for an exclusive one-on-one interview starting at 11:30 a.m. Use promo code MANA to receive 10% off ticket price The event will also include discussions on the […]

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Deutsche, HSBC to lead $800M 28 Liberty refi

Deutsche Bank and HSBC have term sheets out to refinance Fosun International’s 2.1 million-square-foot 28 Liberty office tower in Lower Manhattan to the tune of $800 million, sources told The Real Deal. The banks plan to close the floating-rate, six-year loan before Thanksgiving and then syndicate the deal, at which point Nataxis and Credit Agricole are likely to come in, sources with knowledge of the deal said. The lenders will provide $500 million in debt […]

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Don’t worry, be happy about Gowanus rezoning, councilman says

Rezoning efforts in New York tend to be met with protests and complaints, but Gowanus council member Brad Lander thinks his neighborhood could prove the exception to this rule. “I think we are building a lot of consensus. And I am hopeful that this will produce a better plan,” Lander said in an interview with Politico. “The goal is not just not to have opposition … but hopefully the subsequent process, the ULURP, will be […]

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Trade groups unhappy with fine hikes for building code violations

  A trio of City Council bills hike up penalties for building code violations and creates a new fine for when a death occurs at a construction site. The council approved two bills this week, one that will raise the minimum civil penalty for “major violations” from $1,000 to $2,000, the Commercial Observer reported. The other measure establishes a “violation ratio,” which is the number of — in Department of Building lingo — major and/or […]

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95-year-old EV tenant paying $84 a month accuses landlord of harassment

A group of rent regulated tenants in an East Village apartment — one of whom pays just $84 a month — is accusing their new landlord of trying to force them out of their homes. The residents at 192-4 First Avenue claim the building’s new owner Lionel Nazarian is cutting off their utilities, running an illegal construction zone and sending threatening emails, Gothamist reported. Nazarian paid $13 million for building in June, according to the […]

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Fourth year’s the charm: TF Cornerstone files permits for long-awaited Queens waterfront project

After years of problems and delays, TF Cornerstone has filed the initial permits to build its Hunters Point South project on the Queens waterfront. Work on the roughly 1,200-unit project began back in late 2013, but TF Cornerstone did not file the first permits for it until Thursday thanks to multiple issues between the developer and local, state and federal agencies that forced a major redesign of the project and almost tripled its construction timeline, […]

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Shop around for title insurance

A recent legal settlement between the federal government and a title insurance agency is drawing fresh attention to one of the murkiest, least understood and costly items you get charged for in a real estate closing: title insurance. You are hardly alone if, like many buyers and mortgage borrowers, you didn’t shop for the lowest cost and best title insurance coverage and settlement services the last time you closed on a home loan. Instead, you […]

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Developer of controversial Park Slope luxury project agrees to concessions

The developers behind the project meant to replace Park Slope’s 5th Avenue Key Food have filed preliminary plans for their project with the city after agreeing to multiple concessions from the community. Avery Hall Investments plans to construct two buildings on the site, and the developer has agreed to issue an RFP for a supermarket that is “community oriented,” offers foods at a range of prices, and sells ethnic products such as Goya foods, according […]

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National Cheat Sheet: Five top US RE firms are hot investments in Israel, Amazon is taking over your building’s package room … & more

From TRD L.A.: US real estate firms recommended to Tel Aviv investors A handful of major U.S. real estate companies that trade on the Tel Aviv bond market got the seal of approval from IBI, an Israeli investment firm. The company released a report to investors this week that recommended the Moinian Group, Related Companies, Wharton Properties, KBS and Lightstone Group. All five have seen their yield spread trend downward comparable with government bonds, showing […]

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The commercial pricing after-party

From the October issue: Commercial real estate sales in the five boroughs have seen a significant drop-off as buyers sit on the sidelines waiting for prices to fall. But at a time when banks are eager to refinance assets and few owners are pressured to trade, average pricing on closed deals continues to rise — a sign that some sellers are feeling all the more confident. The average price on commercial sales in the first half […]

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